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Taxation

Top 5 Tax Saving Strategies for South African Restaurant Owners

Top 5 Tax Saving Strategies for South African Restaurant Owners

Contents Table1 5 Tax Saving Strategies1.1 Capital Allowances for Equipment and Assets1.2 Employee Benefit Deductions1.3 Claiming Input Tax Credits1.4 Small Business Corporations (SBC) Tax Regime1.5 Section 12I Tax Incentives2 Conclusion As a restaurant owner in South Africa, managing your tax obligations efficiently can help increase your profitability and boost your bottom line. By employing the […]

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The Latest Tax Changes in South Africa and Their Impact on Your Business

The Latest Tax Changes in South Africa and Their Impact on Your Business

The South African Revenue Service (SARS) has recently implemented comprehensive adjustments to the Corporate Income Tax (CIT) system, which came into effect from the 23rd of June, 2023. These modifications directly pertain to the Income Tax Return for Companies (ITR14) and the Notice of Assessment for Companies (ITA344C). Staying Informed SARS emphasizes that a select

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When Should You Register As A Small Business Corporation?

Small Business Corporations in South Africa: Benefits, Qualification, and Compliance

Contents Table1 What is an SBC?2 The Benefits of Being an SBC3 Qualifying as an SBC4 Registering as an SBC5 Compliance Requirements for SBCs6 Comparison of SBCs with other types of companies7 Changes in SBC regulations8 Financing options for SBCs9 SBCs and BEE compliance10 How to Maintain SBC Status11 Conclusion Starting a small business in

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taxpayer filing season

Individuals can start filing taxes from 1 July 2022

The South African Revenue Services (SARS) has announced that taxpayers will be able to file their tax returns from 1 July 2022. SARS said that the other important dates that taxpayers should be aware of the following deadlines: For companies, within 12 months of their financial year-ends; For all other taxpayers – including natural persons,

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How Working from Home Can Save You Tax in South Africa

How Working from Home Can Save You Tax in South Africa

With more and more people working from home, it’s important to understand how this could impact your tax returns. In South Africa, you may be eligible to claim home office expenses as a deduction on your tax returns if you meet certain qualifications. Here are some key things to know: Eligibility Requirements: To qualify for

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